Cryptocurrencies, including bitcoin and ether, experienced a sell-off as risk assets such as equities declined. Bitcoin dropped below $80,000, while ether briefly went below $2,000. The CoinDesk 20 Index fell 5%, with several cryptocurrencies losing between 7% and 10%. This decline in crypto markets coincided with a sharp decrease in U.S. equity indexes at the beginning of the week. Crypto equities, including Strategy and Coinbase, also experienced losses. The lack of positive catalysts and concerns about a tariff war and a slowing economy are weighing on crypto markets. There is a growing correlation between cryptocurrencies and equities in the near term.



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